Civil Service Retirement System (2024)

FAQs

Is CSRS a good retirement system? ›

In several ways, the CSRS was a more generous retirement system than FERS. For instance, under CSRS, all retirees received cost-of-living adjustments, even if they retired young. FERS retirees usually receive a cost-of-living adjustment only if they retire at 62 or later.

The average monthly annuity payment to workers who retired under CSRS in FY2022 was $5,447. Workers who retired under FERS received an average monthly annuity of $2,126. Employees retiring under FERS had a shorter average length of service than those under CSRS.

CSRS provides a generous lifetime annuity to civil servants after retirement, based on their age, average salary, and years of service.

The best estimates show only 1% to 4% of the current federal workforce (100,000 employees at the most) are still covered under CSRS.

The basic FERS retirement benefit would be only about half as much as it would be under CSRS. Under FERS, the computation generally is 1% (or 1.1%if retiring at age 62 or later with 20 or more years of service) times the high-three average salary times years and months of service.

It was replaced by the Federal Employees Retirement System (FERS) for federal employees who first entered covered service on and after January 1, 1987. Please note that if you entered the government after this date, you are not eligible for CSRS.

How much will my Social Security benefits be reduced? We'll reduce your Social Security benefits by two-thirds of your government pension. In other words, if you get a monthly civil service pension of $600, two-thirds of that, or $400, must be deducted from your Social Security benefits.

In addition, the attrition rate was comprised mostly of retirements for both GS 10-12 and GS 13-15 employees. Finally, the attrition rate for career members of the Senior Executive Service was 9.2%, mostly comprised of retirements.

If you retire under the Civil Service Retirement System (CSRS), the maximum survivor benefit payable is 55 percent of your unreduced annual benefit.

The maximum benefit you can receive from CSRS is 80 percent of your high-3 average salary, plus credit for your sick leave. This limit generally affects only those who have more than 41 years 11 months of service when they retire.

Can I collect CSRS and Social Security? ›

Unlike most employer-sponsored pensions in the private sector, CSRS annuities were not intended to supplement Social Security benefits. Yet, most Federal workers who earn a CSRS annuity also receive Social Security benefits at some time.

The CSRS has traditionally been a single benefit retirement plan. Employees have had one payroll deduction for the plan and, after retirement, have received one check from CSRS each month for the rest of their lives.

Who is eligible for Civil Service Retirement System (CSRS)? Eligibility is based on your age and the number of years of creditable service and any other special requirements. In addition, you must have served in a position subject to CSRS coverage for one of the last two years before your retirement.

Retirement income for federal employees, with an average monthly annuity of $5,447 for those under the CSRS and $2,126 under the FERS in fiscal year 2022, is multifaceted and influenced by a variety of factors. These include length of service, pay grade, and the specific retirement system an employee is part of.

CSRS Employees

Generally, your spouse is entitled to 55% of your earned annuity based on your length of service and high-three salary at the time of your death.

CSRS Employees

Generally, your spouse is entitled to 55% of your earned annuity based on your length of service and high-three salary at the time of your death. Eligible children are also entitled to a survivor benefit. Unmarried dependent children may receive monthly benefits until they reach age 18.

These benefits are paid primarily under the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS). Tax rules for annuity benefits. Part of the annuity benefits you receive is a tax-free recovery of your contributions to the CSRS or FERS. The rest of your annuity benefits are taxable.

The general consensus among federal employees that the best day of the year to retire is the very last one – December 31^st. This has to do with the accrual of annual leave and making sure feds get the highest lump-sum payment possible for this “use-or-lose” type of paid leave.